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Overview

Chinese Government provides RMB 50 million interest-free loan via ETCA for March 26 Stadium Construction Project (Linked to Record ID#58662)

Commitments (Constant USD, 2023)$14,029,720
Commitment Year•2001Country of Activity•MaliDirect Recipient Country of Incorporation•MaliSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 4, 2001
End (actual)
Dec 4, 2001
First repayment
Dec 30, 2010
Last repayment
Dec 27, 2020

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The March 26 Stadium (Stade du 26 Mars) is located in the capital city of Bamako. More detailed locational information can be found at https://www.openstreetmap.org/way/614805134 and https://geohack.toolforge.org/geohack.php?pagename=Stade_du_26_Mars&params=12_36_16_N_7_55_18_W_.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Mali

Implementing agencies

State-owned companies

  • China Overseas Engineering Group Co., Ltd. (COVEC)

Loan desecription

Chinese Government provides RMB 50 million interest-free loan via ETCA for March 26 Stadium Construction Project

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On June 10, 2000, the Chinese Government and the Government of Mali signed an RMB 50 million loan for the March 26 Stadium Construction Project (see Record ID#58662). Then, on December 4, 2001, the Chinese Government and the Government of Mali signed an Economic and Technical Cooperation Agreement (ETCA) providing an RMB 50 million interest-free loan for the same project (as captured in this project). According to the ETCA, the loan would be used for five years from January 1, 2002 to December 31, 2006. This project involved the construction of a football stadium located in Bamako called the Stade du 26 Mars (March 26 Stadium). It seats 50,000 people. China Overseas Engineering Group (COVEC) was the contractor responsible for implementation. Construction began in 1999 and the stadium was inaugurated on December 4, 2001, ahead of the 2002 Africa Cup of Nations. The Chinese Government reportedly covered 1/3 of the total project cost (25 million euros), with the Government of Mali covering the other 2/3.

Staff comments

- The Chinese project title is 新建5万人座体育场 or 建马里326体育场 援建. - The French project title is Construction du Stade du 26 Mars. - Neither of the Chinese Government loans that the Government of Mali contracted in 2000 and 2001 for this project are recorded in the database of Chinese loan commitments that SAIS-CARI released in July 2020. The Government of Mali also contracted two, RMB 30 million loans for this project in 1999. Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20 years by default and grace period to 10 years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.